Phillips 66 (NYSE:PSX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Phillips 66 (NYSE:PSX) has been assigned a consensus rating of “Moderate Buy” from the twenty-three research firms that are currently covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $184.50.

A number of equities research analysts have weighed in on the company. Mizuho raised their target price on Phillips 66 from $152.00 to $170.00 and gave the company a “neutral” rating in a report on Tuesday, March 17th. Barclays increased their price target on Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. BMO Capital Markets increased their price target on Phillips 66 from $175.00 to $195.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. Citigroup increased their price target on Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Finally, Jefferies Financial Group cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th.

Phillips 66 Trading Up 1.0%

Shares of NYSE:PSX opened at $180.26 on Wednesday. The company has a market capitalization of $72.27 billion, a P/E ratio of 17.76, a P/E/G ratio of 0.28 and a beta of 0.70. Phillips 66 has a 1 year low of $104.83 and a 1 year high of $190.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The business’s 50 day simple moving average is $168.18 and its 200 day simple moving average is $149.62.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.90) EPS. On average, research analysts anticipate that Phillips 66 will post 16.76 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a $1.27 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.8%. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Insider Buying and Selling

In other news, Director Kevin Omar Meyers bought 175 shares of Phillips 66 stock in a transaction dated Tuesday, March 17th. The stock was bought at an average cost of $173.20 per share, for a total transaction of $30,310.00. Following the purchase, the director directly owned 16,624 shares in the company, valued at approximately $2,879,276.80. This represents a 1.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lisa Ann Davis sold 3,800 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $174.37, for a total value of $662,606.00. Following the completion of the sale, the director owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 91,529 shares of company stock worth $15,740,519 over the last 90 days. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after acquiring an additional 205,480 shares in the last quarter. State Street Corp boosted its position in Phillips 66 by 0.8% during the fourth quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock valued at $3,043,996,000 after buying an additional 175,616 shares during the period. Geode Capital Management LLC boosted its position in Phillips 66 by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock valued at $1,338,596,000 after buying an additional 45,340 shares during the period. Norges Bank purchased a new stake in Phillips 66 during the fourth quarter valued at about $640,206,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Phillips 66 by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company’s stock valued at $509,006,000 after buying an additional 89,621 shares during the period. Institutional investors own 76.93% of the company’s stock.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.